Versor Investments LP Decreases Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Versor Investments LP lowered its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 32.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,674 shares of the company’s stock after selling 822 shares during the period. Versor Investments LP’s holdings in Boston Beer were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Boston Beer by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after buying an additional 33 shares in the last quarter. CWM LLC lifted its holdings in shares of Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after purchasing an additional 34 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Boston Beer by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock valued at $1,440,000 after purchasing an additional 40 shares in the last quarter. Pacific Global Investment Management Co. lifted its holdings in shares of Boston Beer by 6.5% in the fourth quarter. Pacific Global Investment Management Co. now owns 1,031 shares of the company’s stock valued at $356,000 after purchasing an additional 63 shares in the last quarter. Finally, Gagnon Securities LLC lifted its holdings in shares of Boston Beer by 0.5% in the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock valued at $5,143,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

SAM has been the topic of several recent research reports. Jefferies Financial Group raised shares of Boston Beer from a “hold” rating to a “buy” rating and upped their price target for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a report on Wednesday, June 5th. Piper Sandler reduced their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Roth Mkm cut their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Beer has a consensus rating of “Hold” and an average target price of $326.92.

Boston Beer Stock Performance

Shares of SAM stock opened at $280.65 on Thursday. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52. The company has a 50 day moving average price of $281.31 and a 200 day moving average price of $289.87. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Boston Beer’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts forecast that The Boston Beer Company, Inc. will post 9.65 EPS for the current fiscal year.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.